You have found the following ages (in years) of 4 sloths. The sloths are randomly selected from the 28 sloths at your local zoo: $ 12,\enspace 12,\enspace 6,\enspace 1$ Based on your sample, what is the average age of the sloths? What is the variance? You may round your answers to the nearest tenth.
Solution: Because we only have data for a small sample of the 28 sloths, we are only able to estimate the population mean and variance by finding the sample mean $({\overline{x}})$ and sample variance $({s^2})$ To find the sample mean , add up the values of all $4$ samples and divide by $4$ $ {\overline{x}} = \dfrac{\sum\limits_{i=1}^{{n}} x_i}{{n}} = \dfrac{\sum\limits_{i=1}^{{4}} x_i}{{4$ To compensate for this underestimation, rather than simply averaging the squared deviations from the mean , we total them and divide by $n - 1$ $ {s^2} = \dfrac{\sum\limits_{i=1}^{{n}} (x_i - {\overline{x}})^2}{{n - 1}} $ $ {s^2} = \dfrac{{17.64} + {17.64} + {3.24} + {46.24}} {{4 - 1}} $ $ {s^2} = \dfrac{{84.76}}{{3}} = {28.25\text{ years}^2} $ We can estimate that the average sloth at the zoo is 7.8 years old. There is a variance of 28.25 years $^2$.